Gaming
Following extensive trading on the NASDAQ stock exchange, Apple's market value stood at $222.12bn (£153.57bn), while Microsoft's came in at $219.18bn (£151.54bn).
However, Microsoft remains the most profitable of the two firms, announcing $4.01bn (£2.77bn) profit on revenues of $14.50 billion (£10.02bn) during its last fiscal quarter. Apple reported $3.07bn (£2.12bn) in profit on revenues of $13.50bn (£9.33bn) for the same period.
"It's a long game, we have good competitors... we too are a very good competitor," Microsoft exec Steve Ballmer told Reuters. "We are executing very well and that is going to lead to great products and great success."
Microsoft's performance was partly attributed to strong revenue from its entertainment division, which includes the Xbox 360. Apple was bolstered by sales of its iPad tablet, which recently exceeded one million units.
The iPad was released worldwide on Friday.
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